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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Thursday, May 3, 2012

Eurozone Unemployment Hits Record High

Eurozone Unemployment Hits Record HighABC NewsEurozone unemployment rose by 169000 in March, official figures showed Wednesday, taking the rate up to 10.9 percent — its highest level since the euro was launched in 1999. The seasonally adjusted rate was up from 10.8 percent in February and 9.9 ...ABC News

Grand plan to save Europe is unravelingmsnbc.comIn Spain, which sank back into recession in the first quarter, the unemployment rate hit 24.1 percent in March, a level not seen in eurozone data stretching back to 1986. By John W. Schoen, Senior Producer Europe's two-year-old strategy of austerity ...msnbc.com

Eurozone jobless benefits vary widelyBoston.comLONDON—Unemployment benefits across the 17-country eurozone, where joblessness has hit a new record of 10.9 percent, vary considerably. In some countries, welfare payments have been cut recently as part of austerity measures introduced to bring ...

Euro zone unemployment at record high 10.9%Los Angeles TimesBy Tiffany Hsu Unemployment in the 17 countries that make up the euro zone was at a record high of 10.9% in March, according to a new report that likely has incumbents in Sunday's elections breaking into a cold sweat. The jobless rate is up from 10.8% ...

Eurozone unemployment hits record 10.9%CNNMoneyBy Chris Isidore @CNNMoney May 2, 2012: 10:15 AM ET NEW YORK (CNNMoney) -- Unemployment in the eurozone rose to 10.9% in March, another sign of the broad economic weakness and possible recession across the continent. The unemployment rate across the ...

Unemployment Reaches Record High in Euro ZoneNew York TimesFRANKFURT — Unemployment in the euro zone rose to a new high in March, according to figures released on Wednesday, which came a few days before crucial elections in France and Greece, and which are likely to intensify calls for an easing of the ...New York Times

Euro-Zone Manufacturing Slumps As Unemployment Matches Record HighWall Street JournalBy Ilona Billington and Paul Hannon LONDON (Dow Jones)--The euro zone's manufacturing sector shrank at the sharpest pace in almost three years in April, while its unemployment rate rose to match a record high in March as 169000 people lost their jobs.

Euro-Zone Jobless Rate Continues To ClimbWall Street JournalThe continued rise in unemployment is likely to damp consumer spending in coming months, and limit the euro-zone economy's ability to grow rapidly. It is also likely to fuel discontent with the austerity programs now in place in most euro-zone members.

Euro-Zone Data Point To Continued ContractionWall Street JournalBy ILONA BILLINGTON LONDON—The euro zone's manufacturing sector shrank at the sharpest pace in almost three years in April, while its unemployment rate rose to match a record high in March as 169000 people lost their jobs. The grim data indicate that ...

Euro zone unemployment equals record high in MarchReutersBRUSSELS (Reuters) - Unemployment in the euro zone rose to 10.9 percent in March, equaling the record high of 15 years ago, data showed on Wednesday, driven by rises in Italy and Spain. The jobless rate in the 17 nations using the single currency ...

Euro-Zone Economic Woes DeepenWall Street JournalBy ILONA BILLINGTON And PAUL HANNON LONDON—Business activity in the euro zone'smanufacturing sector shrank at the sharpest pace in almost three years in April, according to a closely watched survey, and the currency area's unemployment rate rose in ...

Weak Euro Zone Helps Dollar Even MoreWall Street JournalThis all came just before a new wave of pessimism about economic developments in the euro zone as well as in parts of Asia. In the case of the euro zone, the focus was very much on the sharp fall in the purchasing managers indexes for country's such as ...

Eurozone Manufacturing Deteriorates Further in AprilFox BusinessEuro zone factories sank further into decline last month but manufacturers in Asia upped their tempo to meet growing demand from the United States and China, exposing a widening gulf between Europe and the rest of the world.

FOREX-Euro knocked by euro zone factory gloomReutersThe euro was also hurt by data that showed the euro zone labour market continued to worsen as unemployment rose to match its record high of 10.9 percent last seen 15 years ago. The focus later on Wednesday will shift to US private payrolls figures due ...

Eurozone voters query closer integrationFinancial TimesBy Peter Spiegel in Brussels Almost two years ago, just as the eurozone debt crisis was intensifying, a group of senior European officials sat down behind closed doors with some of the region's leading thinkers to discuss ways resolve the crisis ...

Eurozone unemployment adds to gloom ahead of pollsThe GuardianThere was also evidence that businesses are being hit by what many analysts expect to be a eurozone-wide recession. The manufacturing PMI for the zone in April – a measure of confidence among businesses – registered a sharp decline, from 47.7 to 45.9, ...The Guardian

East EU manufacturing slips, euro zone a dragReutersBy Michael Winfrey | PRAGUE (Reuters) - Manufacturing in the European Union's emerging east contracted in April, following a faster-than-expected drop in its main target markets in the euro zone and painting a grim picture for economies which hope ...

ECB To Keep Rates Steady As Inflation HighWall Street JournalBy MARGIT FEHER FRANKFURT—-The European Central Bank is expected to keep interest rates unchanged Thursday as it confronts stubbornly high inflation and the specter of prolonged recession in the euro-zone. All 47 banks and think tanks polled by Dow ...

ECB Has One Hand Tied Behind Its WalletWall Street Journal (blog)Markit's manufacturing PMI for the euro zone as a whole dropped to 45.9 in April from 47.7 a month earlier. That's as low as it's been since the summer of 2009. The slowdown stretches right across the euro zone; not only is the periphery contracting ...

Unemployment tests eurozone austerity driveFinancial TimesBy Ralph Atkins in Frankfurt Relentless rises in eurozone unemployment, which official data on Wednesday showed had never been higher since the euro's launch, will intensify pressure for a broader European growth strategy less focused on fiscal ...

Analysis: Money managers and voters align in EuropeReutersBy Mike Dolan | LONDON (Reuters) - Global investors and European voters, seeming adversaries through two years of non-stop euro crisis, now appear to be reaching the same conclusion: austerity-induced recession can't be the only solution to the ...

Eurozone Crisis: Joblessness Hits Record HighSky NewsUnemployment in the 17 countries that use the euro has reached a record high,reflecting the strength of the eurozone's spreading recession. Official figures show joblessness across the single currency bloc rose by 169000 in March, taking the rate up to ...

Jobless rise adds to eurozone concernsFinancial TimesBy Ralph Atkins in Frankfurt Eurozone unemployment has surged to a record level, highlighting the region's weakening economy in the face of fiscal austerity measures and its increasing divergence from the US. Joblessness across the 17-country region ...Financial Times

Eurozone manufacturing slumps further in April, worse than forecastNew York PostLONDON -- The eurozone's manufacturing sector contracted at the sharpest pace in almost three years in April, data revealed Wednesday, indicating that the currency area's economy is likely to continue to contract. The decline in manufacturing activity ...

Eurozone Unemployment Hits 10.9 Percent, A Record HighBy The Huffington Post News EditorsLONDON — Pressure is growing on Europe's leaders to focus less on austerity and more on stimulating growth as the 17 countries that use the euro face record high unemployment and a recession that is spreading across the region.The Huffington Post | Full News Feed

Eurozone Economy Slows DownBy Chuck ButlerChuck Butler discusses various economic data, specifically the downturn in the Eurozoneeconomy and the currency moves based on the RBA rate cut.The Daily Reckoning

Eurozone unemployment hits record 10.9 percent | The Raw StoryBy Agence France-PresseEurozone unemployment spiked to a record 10.9 percent in March, piling pressure on governments on Wednesday to shift from austerity-first to growth policies so as to revive the economy. The figures, up from 10.8 percent in February, ...The Raw Story

Eurozone Unemployment - Business InsiderBy Joe WeisenthalEurozone unemployment has risen to 10.9%. That's a new Eurozone-era high. It's also right in line with expectations. The previous month was 10.8%. The full report can be downloaded here. Here's the key chart comparing the Eurozone with ...Clusterstock

Brad DeLong: European Financial Crisis Blogging: Hope is Not a ...By J. Bradford DeLongI feel as though I am sitting through a Charlie Kindleberger lecture about Europe in the early 1930s. Every country thinking that the global and continental level of aggregate demand was somebody else's business. Every country thinking that if ...Brad DeLong